Only 2.7% of Thais save for retirement by investing: BOT
Central bank reports results of two-year survey to Cabinet
The Cabinet has been informed that only 2.7% of Thais save for their retirement by investing in bonds or other financial investment products.
During the weekly Cabinet meeting on Tuesday, the Bank of Thailand (BOT) reported the results of its survey on Thais’ financial management skills. The BOT has started these surveys in cooperation with the National Statistical Office in line with guidelines of the Organization for Economic Cooperation and Development (OECD).
The survey on Thais’ financial skills is held every two years. The latest survey started in 2022 and was concluded this year. The BOT said the survey was carried out among 12,402 households nationwide.
The Cabinet was informed that the mean score of Thais’ financial skills was 71.4%, higher than the mean of the OECD.
The survey also found that 87.5% of Thais had savings, and the percentage dropped 2.7% from the previous survey.
The BOT told the Cabinet that only 2.7% of Thais saved by investing in financial products that could increase their savings’ value and most saved simply by putting their money in the banks.
